The U.S. Securities and Exchange Commission (SEC) approved Grayscale Investments’ GDLC spot cryptocurrency exchange-traded fund (ETF), representing a major policy shift through its inclusion of multiple digital assets beyond single-token offerings. The GDLC fund holds Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Solana (SOL), and XRP, differing from previously approved crypto ETFs that focused exclusively on Bitcoin or Ethereum.
Currently managing approximately $775 million in assets, GDLC’s portfolio is predominantly weighted toward BTC and ETH. However, the inclusion of ADA, SOL, and XRP signals a deliberate expansion toward diversified crypto investment vehicles designed to reduce single-asset exposure risks for investors.
Concurrently, the SEC proposed regulatory reforms to streamline future crypto ETF approvals. The changes would eliminate the 19b-4 exchange rule filing requirement, instead relying solely on S-1 registration statements with a standardized 75-day review timeline.
These developments are expected to enhance crypto market liquidity, attract greater institutional participation, and mitigate concentration risks through diversified regulated products. Major financial institutions including Bitwise, Hashdex, and Franklin Templeton are reportedly preparing new or expanded crypto ETF offerings in response.